Release Date: February 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you provide more details on when BioReference might reach profitability and how you plan to balance spending while expanding the oncology testing menu? A: Adam Logal, CFO, stated that they expect to achieve breakeven in the first quarter and profitability thereafter. The focus is on efficiency, and there is no significant investment being made into the test menu.
Q: What can you tell us about the $12.5 million milestone for Merck related to the EBV program, and what are the expectations for Phase 2? A: Phillip Frost, CEO, mentioned that the decision to move to Phase 2 could be made by the third quarter, which would trigger a significant milestone. However, specific milestone amounts cannot be disclosed until they are earned.
Q: Could you elaborate on the dual agonist with Entera Bio, specifically regarding the form and target patient population? A: Elias Zerhouni, President, explained that there are both injectable (weekly) and oral (daily) forms being pursued. The target populations include diabetics, obese patients, and those with fatty liver disease.
Q: What are the expectations for the RAYALDEE launch in China with Nicoya? A: Elias Zerhouni stated that the initial launch will be small, expanding after formal NDA approval. The transaction is milestone and royalty-driven, and updates will be provided in due course.
Q: Can you provide more details on the BARDA funding and its timeline? A: Adam Logal mentioned that they expect $40 million to $48 million in 2025. Elias Zerhouni added that the funding will support development through Phase 1 and potentially into Phase 2, with the total budgetary envelope being $205 million.
Q: What should we expect in terms of ModeX data for the cancer program this year? A: Phillip Frost indicated that safety and tolerability data for MDX2001 should be available by the fourth quarter, with efficacy signals expected in 2026. The hematologic cancer program is in the pre-IND phase.
Q: Are there concerns about government changes affecting vaccine prospects and funding? A: Phillip Frost stated that there are no current indications of concern, and they maintain close contact with contracting officers. The focus remains on preparedness for pandemics and endemic phenomena.
Q: What is the status of the HIV monoclonal antibody program? A: Gary Nabel, Chief Innovation Officer, reported progress with a second-generation, more potent antibody. Discussions with partners are ongoing to advance the program.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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